More than 1,100 members of staff have been made redundant after an attempt to sell Home Fundraising fell through, documents filed with Companies House have revealed.
The door-to-door agency Home Fundraising announced it was going into administration in March, with its joint managing director Dominic Will blaming the costs of downscaling the business to adapt to a changing marketplace.
The administrator’s proposal, filed by the administrators HW Fisher and Company last week, revealed that at least one party made a formal offer to buy nine of the company’s 16 regional offices.
But the document said it had become clear there would be a "significant liability" to the purchaser under the Transfer of Undertakings (Protection of Employment) rules, which require the new owner of a company to keep on members of staff, and the offer had been withdrawn.
As a result, it said, all 1,111 employees had been made redundant, although it pointed out that not all of them were "actively employed" at the company when it went into administration.
When the administration was announced in March, Home said in a statement that more than 600 jobs were at risk.
The company’s former employees are preferential creditors in the administration process, the administrators' document said.
The managing directors of the company, Will and Neil Hope, have launched a new company, Hope & Will, which paid £5,250 for some of Home’s IT equipment.
Will told Third Sector that the new company had also taken on some members of staff, both those experienced in management and those with experience in the field, but he was unable to say how many.
He said the new company was a much smaller operation and a very different entity to Home, which he and Hope founded and ran for 16 years.